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Search Results 0 to 27 of about 28 (some duplicates have been removed)
on the forefront of the president's mind today -- the u.s. economy and that pending fiscal cliff. are we going to go over the fiscal cliff? >> you know, i remain optimistic that there are enough people of good will in this town that recognize our economy will be much better off, american families will be much better off, if we get this done. the most important thing we can do is make sure the middle class taxes do not go up january 1st and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. >> reporter: prediction. are you going to be able to raise taxes? yes or no? >> oh, taxes are going to go up one way or the other. >> reporter: oh, they are? >> and i think the key is to make sure the taxes go up on high end individuals like you and me, barbara. we can afford it. it is entirely possible for us to come up with a deal. but time is running short. >> reporter: the president sounded optimistic about avoiding the fiscal cliff. he said, of his meeting with speaker boehner, "i think the tone was good. i believe both
in the fiscal cliff issue. everybody is obsessed what happens because we're the biggest economy and what we do will affect everybody. everybody including sovereign well funds want to know what has happened. >> what do you tell them? >> i tell them it's unlikely a deal won't be reached. i don't know whether it's december 23 or 24 or 28. very unlikely a deal won't be reached. >> what about post january 1st? >> we're talking about a deal nine months of this fiscal year, we have nine months left of it. we're talking a down payment and have the next nine months and talking about a down payment to make it go away in terms of fiscal cliff for january 1 and still have a lot next year. >> you're as close to wall street guy washington insider, that's what carlyle is, what have you seen behind the scenes or conversations that has made you this optimistic? >> i talked to people in congress and people involved in negotiations and my belief is they know a deal has to be done and each side wants to posture themselves not to give away the things they shouldn't give away. i'm pretty sure they know a deal has t
. the other issue on the forefront on the president's mind, the u.s. economy and that pending fiscal cliff. are we going to go over the fiscal cliff? >> you know, i remain optimistic that there are enough people of good will in this town that recognize our economy will be much better off, american families will be much better off if we get this done. the most important thing we can do is make sure middle class taxes don't go up on january 1. and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. >> prediction, are you going to be able to raise taxes, yes or no? >> taxes are going to go up one way or another. and i think the key is to make sure that taxes go up on the high end individuals like you and me, barbara. we can afford it. it is entirely possible for us to come up with a deal, but time is running short. >> how about this analysis. the obama administration wants to send a clear message that while it supports syria's coalition opposition, to lead syria's democratic transition when the assad regime fa
slow- walks this process, the closer our economy gets to the fiscal cliff. >> reporter: behind the scenes, progress is being made, but democrats are still arguing they've given ground in previous budget battles. that's one reason they are holding firm on higher taxes now. >> $1.6 trillion in cuts. "where are the cuts?" they are in bills that you, mr. speaker, he voted for. >> reporter: and there were new calls for more tax revenue today. warren buffett, vanguard founder john bogle, and financier george soros were among the famous names to call for a tougher estate tax. their proposal would exempt couples with up to $4 million in assets from the estate tax. above that level, estates would pay a 45% tax rate, rising to 50% or more on very large estates. supporters say that would both bring in badly needed revenue and help protect our democracy. >> it works to reduce concentrations of economic and poticapoweacro generations, and those concentrations are antithetical to the basic premise, if you will, of the founding of our republic, which was that it was a land of opportunity. and
cuts? the longer the white house slow walks this process, the closer our economy gets to the fiscal cliff. >> so obviously, republicans are trying to change the conversation from taxes to cuts. what do they want? >> well, they want entitlement reform and what we've seen is that the white house has moved a little bit. the president seems to be open to some form of entitlement reform, maybe not what john boehner wants, but they have said in the last couple of days that they will do corporate tax reform. so we are seeing some movement from the white house, but nothing yet from the house republicans. >> all right. john boehner just came to the microphone. he's just met with his caucus. let's see if he has anything new. >> -- the president's plan to avert the fiscal cliff still does not meet the two standards that i laid out the day after the election. his plan does not fulfill his promise to bring a balanced approach to solving this problem. it's mainly tax hikes. and his plan does not begin to solve our debt crisis. it actually increases spending. our plan meets these standards. it cut
, would jeopardize the economy. fiscal cliff negotiations are now in the hands of just two people, president obama and house speaker john boehner. abc's david kerley joins us live with the latest. david, we have a positive jobs report. better than expected. consumer confidence plummeted. a lot of people attributing that to the gridlock in washington. >> reporter: they're using the jobs report right now, the obama administration. a little more fuel. and we are talking about two men now. it comes down to these two guys and a lot of jobs on the line. possible hiring freezes, furloughs if we go over the cliff. federal agencies now working on reports for the white house, of the cuts they will make if we do actually go over the cliff. a diner, middle-class taxpayers and the vice president, telling republicans a deal to extend tax cuts for all but the wealthy is easy. >> the president would probably have me sprint up to the hill to bring the bill down for him to sign. it can be done like that. >> reporter: not really. even though the two sides are talking, they aren't making much progres
? he said, no, it's a fiscal can cliff because the economy will hit a brick wall if there is not a deal in january. he says it is not hype. >> he's basically saying if we go over the fiscal cliff, if these lawmakers and white house doesn't make a deal, it could lead to a recession? >> that >> reporter: that's right. we could hit another recession if we go over the fiscal cliff. >>> shoppers that dive for cover as a gunman opens for cover in an oregon mall. we're going to give you the latest details, including the newly released identity of the man. >>> internet pioneer john mcafee is on his way back to the united states. kate bolduan is monitoring that story and others. >> guatemala officials escorted him to the airport and he boarded the plane to miami after a deportation order from guatemala. he is wanted for questioning in belize over the death of a neighbor. we've been following his story pretty closely. mcafee was held in guatemala for a week. he made his fortune from the anti-virus software that bears his name. >>> also, jacob tyler roberts was the lone gunman in the shooting at t
taxes, job killers, to the rest of the economy, including obama care tax hikes and including fiscal cliff tax hikes. where's the largic of this position or is it just hypocritical sweetheart deal stuff? >> i don't agree it's a tax killer. the taxes are put into place that the sectors of health care benefit reform, insurers, hospital, medical device companies hoar going to see gain when you have 30 million americans going into the health care system that they also help keep the law sustainable. >> but, wait, i don't understand. we're talking about taxes. come back to the main point. the main point is why are these 18 democrats suddenly opposed to a job killing tax, particularly elizabeth warren, particularly al franken, who are two lefty liberals who love high taxes. is it because, a, they've seen the logic of supply side economics or, b, they're hypocrites because they're just trying to protect their own companies in their own states? >> they have the medical device lobby in their back yard, that's who they're listening to. if they don't want to do this tax, bits $30 billion over te
, the closer our economy gets to the fiscal cliff. >> nobody should trust democrats to put a dime until real deficit reductions. >> reporter: to better understand the gop positioning, remember what any reduction deficit looks like drawn from two different pots of money. first, tax revenue. second, spending cuts likely to center on changes to entitlements like medicare. on revenues, republicans already conceded to tax increases for the wealthy. the big sticking point is what kind and how much. since that is angering many on the right who oppose any tax increases, republicans want democrats to take the heat for entitlement cuts by proposing them first so republicans don't face the wrath of seniors, too. remember this 2011 ad depicting paul ryan throwing granny off the cliff? the white house says it's republicans who haven't offered specifics and the president has. >> very specific spending cuts, including savings in entitlement programs. again, i -- it's not a mystery. we've seen this before. this is the document. >> reporter: that document is last year's white house recommendations to the sup
to the economy. we're going to have a fight on the fiscal cliff. another on the debt ceiling. it's destroying confident in the markets and what bothers me, larry, you know the subprime crisis hit like that. there was no warning. we could have another one like that. >> somebody has to control spending. i think the debt ceiling over a period of time is one way to do it. i'm sorry to you both. i have to get out of here. >> only roughly 800 billion apart. they can come together and solve it. >> i think the main tax -- >> for the good of the country. i'm probably not going to like the deal but that's probably what will happen. >> thank you so much. quick programming note. i will come to you life from our nation's capital tomorrow night as part of cnbc's special all day coverage. rise above, mission critical. now how do you like this scenario? the u.s. government using our tax money to build up an electric battery firm but after it fails the company sells out to a chinese outfit who takes advantage of our own taxpayer dollars. now producing for japan. there is something wrong with this picture. we'
gets to the fiscal cliff. >> reporter: mr. obama's new proposal lowered his request for tax revenue from $1.6 trillion in ten years to $1.4 trillion.trillion on tuesday the white house threw corporate tax reform into the mix, adding it to the already agreed upon push next year for reform of individual tax rates.dismisse boehner's described it as unrealistic and said the tax revenue was "a red herring." the top senate democrat doubted a fiscal cliff deal would be l cli wrapped in time for christmas. >> i think it's going to be extremely difficult to get it done before christmas. >> reporter: speaker boehner is meeting at this hour with house republicans. despite all the gloom the president said he remains confident a fiscal cliff deal will get done. charlie and norah? >> major garrett thank you. nancy pelosi leads the democratseads in the house of representatives. we're pleased to have her with this m us.good good morning. >> good morning. >> where are these negotiations? when they were bargaining over the grand bargain you gave the the president and your caucus did
. that depends on what happens in the world economy. there are two things happening. one is the fiscal cliff. and the recession in europe. if things continue to slow down economically, we'll see less demand for gasoline. if there's more tension in the middle east, we'll see higher prices for oil. those are two things that could affect the price of oil, which will affect the price of gasoline. one thing to remember, that over the last ten years or so, wolf, demand for gasoline has started to drop off, as cars have become more efficient and as we've become better conservers. you'll probably see the price of gasoline head up again in the interim but for the time being you're probably looking at lower gas prices, wolf. >> we'll take it, no one's complaining obviously. thanks very much. >>> a u.s. navy s.e.a.l. rescue in afghanistan turns tragic. we have details on the member of that elite s.e.a.l. team killed while saving an american held captive. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the
. this will boost it further >> bill: car market, about 13,000,000. unless the fiscal cliff screws it up, we should be back over 14 before a short period of time. this shows positive momentum in the economy. this comes the month after the election. right? >> right. >> if this had come before the election. whoa, obama would have won. >> he is going to win reelection now that these numbers are out. >> if jack welch is apoplectic about the other number what would he have thought about this? how would mitt romney spin this as bad news? he would find some way. >> one thing, you mentioned hurricane sandy, in the labor department's numbers they released, they did mention hurricane sandy did not substantively impact jobs data. they pointed that out. >> that shows a lot of economists don't have a clue what they are talking about. >> get out. >> nice to have been working with you. that was the expectation. >> i understand where that would come from. you know there was tremendous dislocates. a lot of people could not get to work. right? mayor their jobs maybe didn't ex
happens with the fiscal cliff. that is coming. what it will cost you. bill: hello, old man winter. he is out there and he is acoming. a major blizzard raging across the midwest bringing record levels of snow. it is de10th, right? martha: it is time. bill: so who is next? ♪ . martha: old man winter, a major storm is pounding parts of the upper midwest, unleashing record levels of snowfall. that's a lot out there. high winds, frigid air. minnesota of course very used to this kind of weather this time of year but even this is really out of the ordinary. reporter tom halden with our minneapolis affiliate ksft. he is driving, i don't know if i recommend that. there he is. he is out of the car. how bad is it out there? >> reporter: well, martha, it is really cold. we have been driving around the twin city roads this morning. we've been streaming and thought, you know what? it is 12 degrees. we have a full foot of snow on the ground. the kids are out of school, a lot of them, why not hop out of the car and let you guys know that winter finally arrived here. you know what? this is normal ki
go over the fiscal cliff. foreign investors will respond badly if america goes over the fiscal cliff at the end of this year. there's a sense, i'm hearing, increasing pessimism among republicans that say we can't afford to have these kinds of talks, even the stalling process doesn't look good for the country. >> there's other incentives that are bringing both republicans, especially the white house, to the table with respect to the fiscal cliff. we did reporting on this. >> your bosom buddy. >> yeah, but there's stimulus the white house wants as a result of the fiscal cliff deal. they don't want to see a lapse, for instance, in the payroll tax cut. although they'd be fine with it being replaced by something else. unemployment insurance passed, infrastructure spending, those are incentives for the white house to cut a deal on the fiscal cliff as opposed to just going over it and saying, okay, we'll just take the, you know, sequester cuts and bush tax rates. >> that's right, and they were willing to do that in 2010 and were criticized, of course, by the base of the party because they f
be directed to new spending instead of deficit reduction. the fiscal cliff must be averted to protect our economy for future generations. yesterday, house speaker john boehner asked the president to identify specific cuts he's willing to make for a balanced approach. i hope the president will take immediate action so progress can be made for a bipartisan solution. in conclusion, god bless our troops and we will never forget september 11 and the global war on terrorism. the speaker pro tempore: the time of the gentleman has expired. the chair recognizes the gentleman from new york. >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: the gentleman is recognized. mr. mig-ins: mr. speaker, there are many lessons to be learned in the wake of the hurricane that devastated parts of new york and new jersey. one of which is the importance of electronic medical records and health information technology. while many hospitals and medical centers were damaged by the storm, hospitals that employed electronic medical records were able to ensure that vital health info
reconsider the controversial measure. >>> and president obama and house speaker boehner mum on fiscal cliff negotiations. and a sign that a deal could be near. >>> new world order, the economy growing at an enormous rate in china, and in a few years it will surpass the u.s. what it means, coming up. >>> dozens of homes damaged in the south, ripping off roofs and damaging trees. more to come. stamp watch, straight ahead. >>> lots to talk about this morning. the next two hours, we'll talk with steve israel. jeff sessions, sandy levin, rahm emanuel and businessman javier paolomarez, ed burns, frankie monday easy, and chuck leavell. "starting point" begins right now. welcome, everybody. "starting point" this morning, angry, united. bracing for protests in michigan as the state is poised to become the most unionized right to work state. as many as 10,000 unionized workers expected at the state capitol to voice their disapproval of the measure. some of them teachers, two detroit area school districts shut down for the day as hundreds of teachers plan to join the protest. president obama brought i
of the fiscal cliff so that people can live next year with a sense of predictability, with a sense that we can have a growing economy, and, frankly, peace in the world. >> and the place on this committee? >> i think it would be fun to do. >> i'll take that as a yes. >> senator lieberman. >> christmas and hanukkah. >> yes. >> what would i like from the president? that he pick the leadership he's been empowered with the election, bring the parties together beginning with speaker boehner and other leaders agree on a bipartisan package that will reduce debt, increase tax and cut increases on spending entitlements. that will do it and usher in a brilliant new period in america's economic history. >> sounds good. senator graham. >> three things, that the president would have -- >> this i thought we only had one. >> this is america you can have three the president will leave a force in afghanistan of 15 to 20 thousand to make sure the place doesn't fall back in to radical hands. that the people get behind syria and end assad's regime and entitlement form so we can keep this country from becoming gree
? the other day, we were talking about the fiscal cliff. and you tell us it will be really, really bad. why does the market keep going up? >> everyone thinks they will fix it. in the market, the question, what will the top rate be for the highest earners. 37%? the market says there will be a deal and lower corporate tax rates. if there isn't a deal, after the first of the year, a big stock market sell-off. >> we'll talk about the 20 days left to the fiscal cliff, straight ahead. >>> still ahead, a prominent republican now officially a democrat. we'll take a closer look at why former florida governor charlie crist left the gop behind. he'll join us to talk about that. >>> and the hit reality show "storage wars," by the way, i love that show. is it fake? what one star is saying. say it ain't so. that in a moment. mmmm. [ female announcer ] make new traditions with pillsbury grands! cinnamon rolls. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it r
, president obama and house speaker boehner spending a sunday together to talk about the fiscal cliff. no word on any progress and the president will be in detroit today to speak about the economy. joining us right now is cnbc's chief washington correspondent john harwood. john, you had a great column over the weekend in the in, times whether you took a look back at what happened in 1990 where things were set up for a grit debate but maybe things were easier at that point because you didn't have the 24-hour news cycle. you had other things that made it easier the last time around. what does that lead us to think this time around? >> well, there are ways in which it was more difficult, as you just alluded to, becky. but there are a lot of similarities, too. there are warnings that the economy is going to take a huge hit if a multi year budget deal was not enacted. you had a republican party led by a president who had made a no tax pledge and who was trying to figure out a way out of that. when he finally did that, that's when the negotiations took on a faster pace. and i do think here the fact
these myths, i hope that we have a more constructive discussion on averting this fiscal cliff. republicans have already stated they are willing to accept some new revenue. speaker boehner has put $800 billion in new revenues on the table. however, we still not have heard from any sub substantive ideas m the president or other leading democrats about cuts to spending or entitlements. we haven't even heard the president say good things about the simpson-bowles recommendations, a commission he appointed, a commission that had republicans and democrats on it, a commission that reported that had conservative republicans and liberal democrats saying we ought to do what we can to see the simpson-bowles approach through. it would be nice to see the president endorse a recommendation of a committee he appointed that had a suggestion for taking care of this fiscal cliff problem. if he had done that two years ago, we wouldn't be debating the fiscal cliff today. so there are serious concerns on my side of the aisle that any agreement we reach will result in immediate tax hikes but promise spending --
be done about the fiscal cliff talk. what surprised us off the record behind the scenes, democrats and republicans agree they should be doing a lot more than they're talking about as part of the current negotiations. they said if you did more on tax reform and particularly on the corporate side and more on social security as far as limiting the growth of that program, more on medicare, if you did something to exploit this oil and gas boom that we're seeing in north dakota, texas and across the country, if you did more to get high skilled immigrants into town, you could not only have an economic recovery but an economic boom. there's a lot of agreement off the record on this, but that politicians on both sides are scared to go out there and be the first to say, hey, let's do these big things that could have an appreciable effect on the economy. >> steve, do you agree with that assessment? what are the big things that need to be done? >> i totally agree. the thing that's depressing about the fiscal cliff plan, we will change the tax code, change this, a tax on gas to help the energy
and then went out of business. >>> and here's what's passing for progress to avoid that fiscal cliff at year's end. president obama and house speaker john boehner spoke about it on the phone with one another. that discussion came as treasury secretary tim geithner confirmed mr. obama is prepared to take the economy over the cliff unless republicans agree to raise tax rates on the wealthy. >>> meantime in georgia, some activists expressed frustration about the stalemate in holiday spirit. they delivered symbolic lumps of coal to the offices of both of their state's u.s. senators. but security guards met them outside of republican saxby chambliss' office. eventually, a few were let inside, but without the camera and media present. of course. that would have been the real story. >> folks are upset now. see what happens january 1 after you get the first paycheck and go, oh, this is what the fiscal cliff meant. yeah. whoo, 2013. >>> all right. the next story involves a new grassroots campaign that is starting. meant to draw attention to the nation's debt crisis. it is our "favorite story of the d
Search Results 0 to 27 of about 28 (some duplicates have been removed)